Considering what’s been happening, the market couldn’t get out of the starting blocks yesterday, which isn’t the worst thing in the world. The tale of the tape was intriguing, with Palantir (PLTR) leading the charge and Netflix (NFLX) right behind; it seems like Technology (XLK) investors are looking beyond the “Mag Seven” (which is smart). And Financials (XLF) continue to rock.

Sector Performance

Tech eked out a gain with cybersecurity names also moving higher.

By the way, “Mag Seven” has gotten much cheaper, and I’m confident they will make a patented surge soon.

There was compelling action in the airlines yesterday, and for a moment, United Airlines (UAL) was among the top ten advancers. However, after the close, the stock popped on earnings that came in well above the consensus and two sets of guidance.

The normal guidance and recession guidance are in play. The fact the stock soared leads me to believe investors aren’t buying the recession hype. The stock was a higher flier in the second half of 2024.

Wall Street Pros Hate U.S. Stocks – That’s Great News!!!!

Bank of America (BAC) says ‘short’ the U.S. market and a record number of global fund managers are looking to cut their positions.

Ironically, a month ago, everyone was told to dump U.S. stocks and load up on European stocks. Last week, hedge funds shattered the record for selling European stocks.

Economic data picks up today and tomorrow.

Today’s Session

Retail sales spiked in part due to front running of tariffs.

Notable Changes:

• +5.3% cars, parts
• +3.3% building mats, garden
• +2.4% sporting & hobby
• +1.8% restaurants & bars
• +0.8% electronics
• +0.7% health, personal care
• +0.4% clothing
• +0.1% grocery
• +0.1% online
• -0.3% dept stores
• -0.7% furniture
• -2.5% gas stations

The big news was out last night – Nvidia (NVDA) taking a $5.5 billion hit from export ban of H20 chips to China. That’s weighting on equity market in general and chipmakers in particular.

Comments

Thinking the strong retail numbers take a recession out of play. Q2 may have negative GDP but pro-business policies and trade deals should show returns starting Q3. And maybe One Big Beautiful Bill during Q3 to boost the stock market. August Belmont on 4/16/2025 1:12:00 PM

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